EU - Mexico: Rediscovering a Partner

After 10 years, the EU and Mexico held a bilateral high-level meeting. Not only that, they also took the opportunity to sign a "modernized trade agreement."

It's not surprising that the old trade agreement was signed by both sides in 2000. Now, the situation for the EU and Mexico has changed significantly and is fundamentally different from before, so the two partners have to re-evaluate each other.

Mexican President Claudia Sheinbaum shakes hands with European Commission President Ursula von der Leyen at the National Palace in Mexico on May 22, 2026.

Photo: Reuters

Under the new trade agreement, Mexico imposes virtually no tariffs on EU goods. This preferential treatment is unique in Mexico's overall foreign economic relations. The EU also grants Mexico special advantages in terms of market access and technology transfer cooperation.

The two sides cooperate on issues of strategic importance to each other and to the times, such as ensuring energy security, the supply chain for rare earth elements and precious metals, and digital transformation and green transformation.

Both sides are now rediscovering each other because the current global situation and the challenges facing each side make one more valuable to the other. For Mexico, the EU is its second most important economic and trade partner after the US. The EU, in turn, can leverage Mexico's trade agreements with the US and Canada to access and penetrate the North American market.

Both the EU and Mexico have been dragged into a protectionist trade tariff war by US President Donald Trump, and both have faced difficulties from Washington. Establishing a new partnership by modernizing the old bilateral trade agreement is an effective defense strategy in the current context.

Source: https://thanhnien.vn/eu-mexico-phat-hien-lai-doi-tac-185260524224006096.htm